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English 78
Search Results 0 to 49 of about 78 (some duplicates have been removed)
CBS
Dec 30, 2012 8:30am PST
might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durbin of illinois, and senator tom coburn of oklahoma. then we'll look forward to 2013 with an all-star panel include peggy noonan of the "wall street journal." dee dee myers of "vanity fair." "time" magazine's executive editor michae michael duffy, and also "time" columnist joe klein. and we'll hear from major garrett and nancy cordes. >> you going to get a deal today, sir? >> hope so. >> o'donnell: it's all ahead because this is "face the nation." captioning sponsored by cbs from cbs news in washington, "face the nation" with bob schieffer. substituting for bob schieffer, cohost of "cbs this morning," norah o'donnell. >> o'donnell: good morning, again. tom coburn and dick durbin are here, and we'll turn to both of you in just a moment. but we want to start with some new information from chief white house correspondent major garrett and congressional correspondent
CSPAN
Dec 30, 2012 6:00pm EST
strongly for the simpson-bowles framework for deficit reduction, and yet here we are no closer to a sensible decision on how to bring our $1.1 trillion budget deficit and our $16.1 trillion public debt under control. well, guess what? time's up. no more games, no more excuses, no more ceking the can down the road. we have to act and we have to act in a way that puts our fiscal house in order, reassures the financial markets and puts the people ahead of politics, and we have to deal with these tax increases and spending cuts in a humane and tolerable way. the calm act does all of that. look what happens to people in need if we go over the cliff and just do nothing. on new year's day, the lowest income tax rate will jump from 10% back to the clinton-era rate of 15%. that's a pretty big financial bite for people in west virginia and i know in ohio, too, sir. these are people that are struggling right now. instead of an overnight tax hike of 5%, the calm act smooths the transition by phasing in increases over three years. so instead of a 5% increase, the 10% bracket would only go t
MSNBC
Dec 30, 2012 11:00am PST
they are for 98% of americans. 97% of small businesses. but if we're serious about deficit reduction, we should make sure that the wealthy are paying a little bit more and combine that with spending cuts to reduce our deficit and put our economy on a long-term trajectory of growth. we have been talking to the republicans ever since the election was over. they have had trouble saying yes to a number of repeated offers. yesterday i had another meeting with the leadership and i suggested to them if they can't do a comprehensive package of smart deficit reduction, let's at minimum make sure that people's taxes don't go up. and that two million people don't lose their unemployment insurance. and i was modestly optimistic yesterday. but we don't yet see an agreement and now the pressure is on congress to produce. if they don't, what i've said is that in the senate, we should go ahead and introduce legislation that would make sure that middle classes taxes stay where they are and there should be an up or down vote. i think there's a majority support for making sure that the middle class families are h
MSNBC
Dec 30, 2012 1:00pm PST
. but if we're serious about deficit reduction, we should make sure that the wealthier are paying a little bit more and combine that with spending cuts to reduce the deficit and put our economy on a long-term trajectory of growth. you know, we have been talking to the republicans ever since the election was over. they have had trouble saying yes to a number of repeated offers. yesterday i had another meeting with the leadership, and i suggested to them if they can't do a comprehensive package of smart deficit reduction, let's at minimum make sure that people's taxes don't go up and that 2 million people don't lose their unemployment insurance. and i was modestly optimistic yesterday. but we don't yet see an agreement, and now the pressure is on congress to produce. if they don't, what i've said is that in the senate, we should go ahead and introduce legislation that would make sure middle class taxes stay where they are, and there should be an up or down vote. everybody should have a right to vote on that. you know, if republicans don't like it, they can vote no. but i actually think that ther
FOX Business
Dec 30, 2012 1:00am EST
with jim. the most deficit reduction is gog toome from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as some sort of grand bargain. it's barely a start. this isn't a fiscal cliff, it's a fisca bunny hill, let's slide down it. >> if we slide down, jonas, in the first week, people are going to open up the paycheck and see less money there. i don't think that people understandhat at this point. >> people get used to tax cs, that's the problem. shoort-term expiring tax cuts, including the payroll tax cut. you know, it's not the best way to solve a problem, but th cliff is the result of not coming up with deals and they're not going to come up with battery deal, if it's negotiated it's nothe ideal way to solve it outfter deficit. we'd like t gradually raise taxes and cut spending, but this is the best we're going to get. any of the deals they would agree on, probably leave us to the other guest's pot, close to a trillion dollars anyway, and it's the closest shot lea
MSNBC
Dec 30, 2012 3:00pm PST
with the deficit in the biggest way. but their only priority is making sure that tax breaks for the wealthiest americans are protected. at some point, i think what's important is that they listen to the american people. >> joining me now, congressman chris von holland of maryland. good evening. it is a good sign that chained cpi is off the table. the senate will be back tomorrow at 11:00. how high is your optimism or pessimism at this moment? >> well, it was a very bad sign when senator mcconnell put this social security change on the table, as part of a small deal, that was obviously something that could have totally thrown a monkey wrench into the process. so the fact that they backed off that is obviously good news. but as senator reid said, there are lots of obstacles still to go. and the fundamental issue remains what the president just said in that clip. both today and for the last year, the number one priority of republicans have been -- has been to use the middle class tax cuts as leverage to try and extract these super big tax breaks for very wealthy individuals, including now their f
FOX Business
Dec 30, 2012 8:00am EST
will be done to address social security, which is now officially running deficit, medicare, medicaid costs are growing ast nomically. at least do a dumb deal now and get people over theiscal cliff and kick the can down the road, that's going to happen anyway. >> steve, no deal, bad deal? i kind of feel like i'm playing poker. what do you think? >> i can't believe it, but i agree with jim. the most deficit reduction is going to come from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as somome sort of grand bargain. it's barely a start. this isn't a fiscal cliff, it's a fiscal bun hill, let's slide down it. >> if we slide down, jonas, in the first t week, people are going to open up the paycheck and see less money there. i don't think that people understand that at this point. >> people get used to tax cuts, that's the problem. short-term expiring tax cuts, including e paoll tax cut. you know, it's not the best way to solve a problem, but this cliff is the result of no
FOX
Dec 29, 2012 11:15pm EST
the deficit to 12-7. third quarter, same score. syracuse's pass deflected and right into the hands of becket rails. the teamwork to a touchdown and back in front by 12. later, prince tyson gullo the carry and kicks it outside. nobody, i mean nobody's going to catch him. 67 yards for the td and finishes with 215 rushing yards. wing it 38-14. >>> tomorrow is a meaningful sunday of football for many teams. some vying for homefield advantage, some a higher seed and some just a spot in the post season. 10612 play-off spots were clenched, including all six in the afc and that means two spots are up for grabs. will the redskins get one of those? this guy hopes so. robert griffin 3, his athletic age allowed the redskins to open up their offense and a threat with the legs, rushing for over 700 yards and six touchdowns and he has a canon of an arm. twenty touchdown passes, just five interceptions and griffin was also huge in the big every game this season with four touchdowns and back-to-back games, including on turkey day. the big save, of course, nothing new for the heisman trophy winner turned nfl
MSNBC
Dec 30, 2012 5:00am PST
enacted by congress to frighten itself into passing deficit reduction measures which means unless congress acts in the next 48 hours the bush tax cuts will expire along with federal unemployment insurance and a broad package of the spending cuts including defense spending will take effect. do weeks of fruitless negotiations and john boehner and senate leader are working on a deal this morning to avoid the fiscal cliff, or as chris hayes and i call it, the fiscal curve. the deadline is soft. it's not like every american is going to be handed a bill on january 1st and there's way to manage the damage if the country goes over. the senate is set to convene this afternoon with the house to follow tonight. there's a chance that a compromise will be reached, less than 48 hours before tax rates revert to their clinton dasher are levels and board across the board spending cuts talk effect. when the president took to the podium friday afternoon to urge the law enforcements to get their act together with he didn't exactly project confidence. >> this is deja vu all over again. america wonders why it i
ABC
Dec 30, 2012 9:00am EST
at the outlines and projected you'd actually add to the deficit as a result of a mini deal over the next period. >> yeah, jonathan, some people have tried to talk about the reductions in spending that ane house in order. that would be the republican side. the president and a lot of folks in his party have shied away from those discussions and i think chuck is accurate in saying that's not going to happen in this conversation but it should. you are right. i can quote from the "juan post" editorial in which they chastised the president for not following through on his campaign promises to talk about a balanced solution, one that would involve both tax revenue and savings. ironically, the revenue that's produced in the president's proposals is about the same amount of money we're going to be spending just to provide disaster relief because of the hurricane to some of the folks on the east coast. >> now, wait. i don't think that's fair to the president. the president had put serious spending cuts on the table. he and speaker boehner a week and a half ago were this close in a $4 trillion deal, they
CSPAN
Dec 29, 2012 7:00pm EST
a plant to grow the economy and shrink our efforts -- deficit. it is a balanced plan, one that would cut spending in a responsible way and ask the wealthiest americans to pay a little more. i will keep working with anybody serious about getting a comprehensive plan like this done because it is the right thing to do for our economic growth. we are not at the point where in a couple of days, the losses at the americans' tax rates are going up. the americans paycheck will get a lot smaller. that would be the wrong thing to do for our economy. it would hurt middle-class families and it would hurt the businesses that depend on your spending. and congress can prevent it from happening, if they act now. leaders in congress are working on a way to prevent this tax hike on the middle class and i believe we may be able to reach an agreement that can pass both houses in time. but, if an agreement is not reached on time, i will urge the senate to hold an up or down vote on a basic package that protect the middle tax from the income tax hike, extends vital unemployment insurance and lays the groundwo
FOX
Dec 30, 2012 9:00am EST
graham, what will w do with the money, what will i say. >> it is added to make up the deficit that everyone has been discussing -- >> it goes for -- >> not new spending. you know, you gets down to another thing, which was a very bad idea, and that is sequester. and whether sequester goes into effect or not. >> chris: well, that -- >> that is the 800 pound gorilla. >> chris: let me ask you about that. i enjoyed your brief state as the host of fox news sunday. >> i think it is a good jeegs i do, too. senator graham, all washington has been talking about is the tax side of the cliff. let's talk about intending side of the cliff, there is still as part of the cliff, $110 billion sequestered. automatic cuts, defense cuts, domestic cuts. what will happen to that? will you address that? >> we'll -- i called leon panetta, last night during dinner. >> chris: secretary of defense. >> and he said, i have been told there will be nothing in the bill to avoid sequestration going into effect and this is the failure of the super committee to find $1.2 trilli in cuts for the debt ceiling incre
NBC
Dec 30, 2012 6:30pm EST
points is should new leff new from tax increases be used to pay down the country's deficit or used to cover the cost of preventing sweeping government spending cuts? no ordinary sunday. arriving at the capitol, congressional leaders' every move and every word under scrutiny, as the country waits, weighing in from the white house, the president, who appeared on "meet the press," pushed republicans to give on taxes. >> i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> reporter: inside closed door negotiations this weekend, aipds say there have been "constructive move." on key issues like taxes, including compromise on where to set higher rates for wealthier americans and avoiding a jump in inheritance taxes. but this afternoon, republican leader mitch mcconnell complained that democrats had failed to deliver a promised counteroffer. so mcconnell called for help, phoning vice president biden who came to the white house to
CNN
Dec 30, 2012 6:00am PST
half a trillion dollars a year, $5 trillion over ten years worth of deficit. that's because while we grew the -- under bush the taxes revenue went up 25%, and spending went up 100% in the last 12 years. if you put back the revenue from the higher taxes, you still have a deficit. that's what we're trying to change. >> we kind of are where we are, and no one is talking about spending cuts. they're talking about keeps taxes low, which everybody agrees. let me ask a specific question first to the democrats here. if they came out with with a deal that said, all right, we will keep tax rates for those making $400,000 or less, would you vote for na? >> candy, i'm willing to come to the middle. i think we've got to all be willing to come to the middle. >> that's a yes? >> i want to say something else very important, and that is for two years now we have only been focusing on spending cuts. in the last two years we've put in place $1.6 trillion in spending cuts. we have put in place spending reductions under medicare of over 700 billion by cutting overpayments to insurance companies and so on
FOX News
Dec 30, 2012 11:00am PST
to do with the money, what do i say? >> well, what you say is that this is added to make up the deficit that everyone has been discussing. >> chris: so not new spending. goes for deficit reduction. >> not new spending. you get down to another thing which was a very bad idea and sequester and whether that goes into effect or not. that is the 800-pound gorilla. >> chris: let me ask you about that. i enjoyed your brief stand as host of fox news. >> i thought it was a good question. >> chris: it was a good question, too. all washington has been talking about has been the tax side of the cliff. let's talk about the spending slide of the cliff. there is still as part of the cliff $110 billion sequester, automatic cuts. defense cuts. domestic cuts. what is going to happen to that? are they going to address that? >> i was called by leon panetta last night at 7:30 during dinner. >> chris: secretary of defense. >> and he said i was told there will not be anything in the deal to avoid se sequestration from going into effect. half of the 1.2 falls on defense. we already cut $489 billion. he says if
CNN
Dec 30, 2012 12:00pm PST
've all done the math and we all absolutely agree on the math that you can't get out of the deficit hole we're in by taxing rich people even if you tax them at 100%. everybody know knows that. so when republicans say we don't have a tax problem, we have a spending problem, the fact is we've got both and we can deal with that. you gave your blessing to the proposal that john boehner put together and so many congressional republicans are scared for voting for something that feels like looks like, a tax increase because they're worried that your organization will come back to haunt them. they signed a pledge, you gave your blessing and they still couldn't get the votes on the floor. what's up with that? why did that not happen? a week ago i was hopeful we might have a deal. >> because the pledge is not to me, it's the american people. it's the people of the state that any congressman or senator is from. they have to feel that they can go to their constituents and say -- i voted against all efforts to raise taxes. i argued having read the boehner plan, it was silent on taxing people that mak
CNN
Dec 30, 2012 1:00pm PST
. it ought to be about reducing the deficit and the debt and what they are essentially suggesting is we want new taxes, we want higher taxes on people in this country to pay for new spending. >> senator, senator mcconnell has spoken a couple times with the vpz. we have seen in the past that the two of them have been able to come up with bipartisan deals to get through congress on taxes and other things. did he give you an indication in the meeting you just had with rank and file republicans that might be an avenue of success? >> there -- those conversations and discussions continue. and we remain hopeful that that will get a breakthrough. on veryiously, what had happened here between the two leaders in the senate had broken down because the senate democrats failed to come forward with a counteroffer to the proposal republicans made last night. so hopefully, the discussions between the vice president and senator mcconnell will get us back on track, hopefully get a breakthrough and something we can vote on, hopefully today or tomorrow that will avert what we believe will be an economic disaste
FOX News
Dec 30, 2012 1:00pm PST
that republicans believe it should be about. it ought to be reducing the deficit and debt. >> senator mcconnell has spoken a couple times with the president and two of them have come up bipartisan deals to get through congress. >> those conversations and discussions continue. we remain hopeful that that will have a breakthrough. obviously what happened between the two leaders in the senate have broken down because the senate democrats fail to come forward with a counteroffer to the proposal that republicans made last night. hopefully the discussions between senators and mcconnell will be something we can vote on today or tomorrow that would add veteran what we believe would be an economic disaster. >> will you take a scaled down version, raising taxes on everybody, do you think your republican colleagues that enough republicans will opt over on the democratic side if needed? >> it's hard to say until we know exactly what might be in it. this is what i would say about it. if that is where we ends up. if we decides to move a bill on the floor and extension and put it on vehicle for that, he ought to
MSNBC
Dec 30, 2012 9:00am PST
't seen the deficit reduction that we could have had, the republicans willing to take a deal that i give them. if they say that people's taxes have gone up, which means consumer spending is depressed, then it's going to have an adverse reaction in the markets. >> there was much more to what the president had to say. listen to what he had to say on deficits and spending. >> you are not only going to cut your way to prosperity. one of the fallacies, i think, that has been promoted is this notion that deficit reduction is only a matter of cutting programs that are really important to seniors, students and so forth. that has to be part of the mix. but, what i ran on and what the american people elected me to do is put forward a balances approached. >> i want you to listen to something else. the president spoke about the tragedy in newtown, connecticut. he described it in a way he's not quite done so publicly before. listen to this. >> this is something that, you know, that was the worst day of my presidency. it's not something that i want to see repeated. >> it hit close to home? >> absolute
CSPAN
Dec 30, 2012 2:00pm EST
to the deficit, i just want to make sure that that money goes to the deficit in reality. it seems to me that that number comes up and is a political situation and what congress is really saying is that i am going to pander to the 98% because if i go to 125%, i will upset more of the electorate. i was listening to david brooks this morning and his comments that the real dysfunctional people are not necessarily congress, but the american people who are prepared to pass these deficits on to our grandchildren. >> have you looked at how any tax increases might affect you? had you planned for that at all? caller: i am comfortable enough, i am planned -- and i plan to give more. i would hope that most people in my financial situation would be prepared to do that. >> the democratic line is next, california. donna, hello. caller: i would like to state -- i think that one of our biggest problems is that the republican party has sold us out to grovers inquest. i think that everyone who took that pledge should be fired from the congress. they took an oath of office first. they have given away the o
CSPAN
Dec 30, 2012 6:30pm EST
to be reducing the deficit and debt. they say they want higher taxes on people in this country to pay for new spending. >> you have spoken a few times with the prize -- the vice president and it seems they have been able to come up with bipartisan deals. did he give you an indication that you just had with fellow republicans that it may be an avenue of success? >> there were conversations and discussions between us and we remain hopeful that it will be a breakthrough. obviously, what happened here between the two leaders in the senate had broken down because they had come forward with a counter offer to what republicans said last night. hopefully the discussions between the vice-president and senator mcconnell will get us back on track and we will have a breakthrough and something we can vote on today or tomorrow to avert what we all believe would be an economic disaster. >> harry reid is as if you cannot come up with something by tonight that he will push a scaled-down version of what the president asked for, the tax cuts on everyone making above $250,000. you say knowing your colleagues tha
MSNBC
Dec 30, 2012 12:00pm PST
they would like to see something that addresses the long-term deficit. whether that can happen in this deal seems to be the problem. democrats have said if they can get something bigger they would be open to changes in entitlements. that is where things stand. there is clearly even handed on both sides saying they want to get things done. you know the clock is running and those signs make everyone think this may not resolve itself tonight. >> thank you very much. >>> let's go to the white house and kristen welker. hi there. >> reporter: hi, there. the white house is not commenting on these developments. senior administration officials say the action is going on on the hill right now. they are hesitant to weigh in. they don't want to disrupt any progress or setbacks that may be in the process of being resolved. so that is what the white house is saying publicly. i can tell you that behind the scenes it is a very busy day here at the white house. staffers have been on the phone with their counter parts on the hill. president obama also on the phone as you heard report he has spoken a number o
CSPAN
Dec 30, 2012 10:30am EST
the deficit $23 billion. the last farm bill we passed that was completely paid for at my insistence as budget committee chairman. everybody else was functioning we faced up to reality. secto in this farm bill, even far more in the way of deficit reduction. it demonstrates this is possible to do. but you have got to have leadership. and you've got to have people who are willing to make some tough decisions to get it done. >> we have about five minutes. i want to talk a little more personal. you have decided to leave your papers of public service to george washington university. why is that? >> i got my master's in business there. they have tremendous resources there to take advantage of this collection, which is loaded with history. >> what kind of things will researchers and historians find? >> the will find that tim conrad has had a single-minded focus on fiscal responsibility for 26 years. [laughter] my staff says that a remarkable thing in looking at this collection is how consistent i have been but pay attention to fiscal responsibility and making sure that certain things add up. they say
CSPAN
Dec 30, 2012 1:00pm EST
was president and he faced similar issues in that we had a deficit that was getting out of control, a debt that was getting out of control. we needed to have growth, and so he put forward a plan, a budget plan that invested in our people, invested in the infrastructure, invested in education, and at the same time said we can find cuts in other areas and we can raise taxes on those who are doing very well. and what happened with that fair and balanced approach? what happened was the greatest prosperity in modern history. 23 million jobs, no more deficits, we got to a balanced budget and i remember saying to my husband my goodness, what's going to happen? there won't be any more u.s. government bonds because we're going to be out of the debt situation. we saw -- we saw it on the horizon when george w. bush became president, he decided to go back, backwards on rates across the board from the wealthiest to the middle to the poor, and he put two wars on a credit card and we are where we are where we are. and to add to this history, we all know that we're coming out of the worst recession since
CNN
Dec 30, 2012 4:00am PST
and shrink our deficits. it's a balance plan. one that would protect the middle class, cut spending in a responsible way and ask the wealthiest americans to pay a little more. and i'll keep working with anybody who's serious about getting a comprehensive plan like this done because it's the right thing to do for our economic growth. but we're now at the point where in just a couple of days the law says that every american's tax rates are going up. every american's paycheck will get a lot smaller. and that would be the wrong thing to do for our economy. it would hurt middle class families and hurt the businesses that depend on your spending and congress can prevent it from happening, if they act now. leaders in congress are working on a way to prevent this tax hike on the middle class and i believe we may be able to reach an agreement that could pass both houses in time. >> the president will have another chance to deliver that message, again. this morning he will appear on nbc's "meet the press." his first sunday talk show appearance in three years. mr. obama is expected to call on
FOX News
Dec 30, 2012 7:00am PST
an obligation of the american people to make sure that the entire burden of deficit reduction doesn't fall on seniors who are relying on medicare. >> now, what the president s correct about s that in the negotiations with speaker boehner in recent weeks the president was giving on social security and med did i kay changes that democrats were not excited about but speaker benito walked away -- but speaker boehner walked away from those negotiations. senator mitch mcconnell said in the last couple of days when got a phone call from the president saying let's try to come back to the table and work this out. mcconnell said that is the first time he heard from the president, senator harry reid or any of the tomorrow democrats in about a month. in terms of presidential leadership there had not been that give and take in a month. >> that is astounding as you point out for more than a point. republicans concerned about the impact of the pentagon budget if this goes through. >> when people talk about the fiscal cliff most of the attention is about taxes going up and that being the so called fiscal
CNN
Dec 30, 2012 9:00am PST
to do that because they want to get to deficit reduction by spending cuts and that's what the sequester is. that's one of the sticking points. i'm told one of the many sticking points right now, we're going to possibly see republicans and democrats mean meet in their respective corners to try to get a briefing from the leaders about what's going on at 3:00 eastern, but i'm also warned if talks continue, that might be pushed back as well. that's the next timeline we're looking for, 3:00 eastern. >> i think thee matically what we're hearing from republicans where are the spending cuts and we heard the president this morning also reiterate he thinks some of those tax hikes could help mitigate that $110 billion or so being taken out across-the-board cuts. we will see you later ons this afternoon, dana, as you follow every minute of this. thanks a lot. >> thank you. >> president obama says slashing the deficit is a priority but so is more spend oggen certain things. we'll talk with two republican lawmakers about the president's second-term agenda next. to the best vacation spot on earth. (al
CNN
Dec 30, 2012 2:00pm PST
do anything to reduce the deficit and this was all supposed to be an exercise in bringing down our deficit and our long-term debt and where we are right now, it doesn't appear that we are getting that done and even more importantly, it appears that republicans are still trying to protect the tippy top as opposed to looking after the greater good of the economy and middle class families. >> as far as you-all were told by the democratic leader, where do you think stands -- things stand right now? >> i think that there is a difference in terms of what we think the rates should be for -- and at what point there should be a tax cut and at what point there should be a little revenue that we should collect. there is a difference there. there was a difference about whether or not we should be looking at the social security issue in this discussion. my understanding now the republicans have backed off now, correct, and we are looking at whether or not we are going to end up with deficit and debt reduction and whether or not the changes the republicans are insisting upon are going to comes o
CSPAN
Dec 30, 2012 7:00am EST
across the country. we talk about reducing deficits and having a responsible budget for 20 years. this is actually, it will you go over the cliff and nothing changes, the largest single day of the deficit reduction in world history. it is $600 billion in deficit reduction trust by the turn in the calendar. over the long term, you look at what that does, we are in much better shape over the long term by going off the cliff. the problem is that right now, we are still very slowly recovering from the worst financial crisis it had since the great depression. it probably is not the time to be having such large deficit reduction. that is why we and others have been focused on getting some kind of a larger deal that can ensure we do not have this extensive short-term deficit reduction. if we start to deal with these problems now, we can do so adequately and without too much short-term economic pain and helping the economy. from let's go to patricia oak creek, wisconsin on the democratic line. caller: good morning, and happy new year to the both of you. i feel so sad for our poor country
FOX Business
Dec 30, 2012 6:00pm EST
: will that tax solve the deficit spending? >> it will if you include 2%, 250,000 for couples, 200,000 for individuals and above. you start taxing capital gains and dividends, reinstate that and get rid of $109 billion in corpate xes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close to fixing the deficit snding. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximaely eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but thfiscal problems facing the country which is democrat or republican. tom: do you have any hope that the blame game can be put aside so they can get some work done? in the private sector these people would be fired. >> absolutely. this is a do nothing congress, the least active in four years when it comes to policy making, and the reason we are here is tha
FOX News
Dec 30, 2012 8:00am PST
cliff really mean for us? you know, any deal will likely not address the deficit. so what we can expect from lawmakers, after the deadline is over. we will take a look at that. >> heather: a few more arguments. russian president vladimir putin is putting adoptions on hold for american families, like this boy, four years old. his future is on hoild because the president of russia says so. what his american abts adoptive parents have to say to putin. i have a cold, and i took nyquil, but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insuranc
CNN
Dec 30, 2012 3:00pm PST
not been solved, that we haven't seen the kind of deficit reduction that we could have had, had the republicans been willing to take the deal they gave them, and if they say that people's taxes have gone up which means consumer spending will go down. >> and keep in mind that the senate is the first hurdle. any deal has to pass the house. we are not into the senate yet and the republican speaker john boehner plablamed the crisis one president saying he the one who has never found a way to say yes. >> so you are in new york and i'm in atlanta, and we get to washington now, because the senior congressional correspondent dana bash is closely following the negotiations from capitol hill, and dana, you have been there and talking to people, and where are we on this? >> well, the senate majority leader harry reid was on the floor moments ago saying that the senate will reconvene at 11:00 a.m. tomorrow. the senate will reconvene tomorrow at 11:00 tomorrow, and that means no senate votes tonight which is not good news for everybody looking at the calendar and looking at the watch at this
FOX News
Dec 30, 2012 9:00am PST
the deficit, not new government spending. shannon? >> how confident are the "cook's essentialsal" democrats about the ability to get this done? >> reporter: congressional democrats do not sound over confident. they recognize this is a heavy lift between the top two senators in the next couple of hours. but a leading new york democrat sounded cautiously optimistic. >> there is certainly no breakthroughs yet between senator mcconnell and senator reid. but there is a real possibility of a deal. i have been a legislator for 37 years. and i have watched how these things work. they almost always happen at the last minute. >> reporter: we are getting down to the left minute. the threshold for extending the bush tax cuts. president obama campaigned campn capping it at $250,000, raising taxes on those who earn more than $250k, but some of the discussion and it is buzz around capitol hill has been about perhaps going to the $400,000 mark. the question is, will you get enough republicans to buy in if that is the deal? shannon? >> thanks to mike on capitol hill. we will continue to check in. now to ed
MSNBC
Dec 30, 2012 2:00pm PST
. it ought to be about reducing the deficit and the debt, and what they are essentially suggesting is we want new taxes. we want higher taxes on people in this country to pay for new spending. >> so what happens next? with us nbc news capitol hill correspondent mike vic rah and nbc news white house correspondent kristen welker. mike, let's get started with you. what's happening right now in the senate. i understand there's an update on the chained cpi. >> reporter: they say the darkest hour right before the dawn, melissa. everybody ought to hope that's true, at least if you don't want to see your taxes go up on midnight on monday and tuesday night because everything seems to be at a standstill right now. let's review the bidding. here it is from a republican source here on the republican side of capitol hill. all day yesterday they were trading proposals back and forth. by his count two democratic offers came back to republicans and four came back from republicans to democrats. the last one being at 7:00 last night, and, boom, after that, things pretty much came to a standsti standstill. no o
CNN
Dec 30, 2012 11:30am PST
go towards deficit reduction. but democrats in the talks have been willing to come up and that's another big gulf between the two of them on this issue of tax rates. >> dana bash, thanks for the latest update from capitol hill. let's get you checked in with other storyings trending on cnn.com. the death toll from russia in a plane crash has risen to five. the plane went off a runway at a russian airport. >>> two georgia boys, will soon be headed home after being missing for several days. henry and ben were found in austin, texas. police say their father, daniel cleary failed to return them home after a holiday visit. cleary is now in police custody. and who doesn't know the oakridge boys, the group sang for former president george h.w. bush while he's recovering in hospital. we'll talk to one of the band members. >>> let's do this one for you, you'll remember this one. ♪ amazing grace >> those are the oak ridge boys singing "amazing grace." the gospel turned country crooners brightened up the xli president's day. one of the oak ridge boys joins me now from nashville, tennesse
CSPAN
Dec 30, 2012 10:00am EST
for eight to 16 days. it will raise our deficit to somewhere around $1 trillion. i think we have to get aggressive about spending. we're going to have to look added title months if we're going to start to solve these problems. -- entitlements if we're going to start to solve these problems. i think the approach he has taken is one that is setting this process up for failure. the proof is the results of negotiations we have seen over the last couple weeks. >> would you have voted for plan b? >> as someone who has been out here in indiana, i do not know all the details of plan b. i know the basic framework. i support the speaker's efforts to try to at least be part of leading. some of the criticism the speaker has received for even proposing such a proposal has been unfair. >> you mentioned how the freshman class is going to be part of a bigger change, and will have seen more than a third of the body turn over in three years. it seems to me that it used to be that after an election, and we had a fairly slow november, fairly slow december, there is an agglomeration, things get back to norm
FOX Business
Dec 30, 2012 1:30am EST
. no one is talking about how do we, y know, truly bring down the 16 trillion dollar deficit. instead of loaning us marks toward 20 plus. there are things that are ultimately up for play. mortgage interest deduction is up for play and the health care that provides for you, that's taxed at some point. at the least, it'seans tested and some peopleren't gointo get it, but ultimately, this government has a ferocious appetite for spending and all of these cuts that we're talking about, even though they will hurt everyone, they're just a drop in the buct for where we're going. >> i just laughe ben, as so as you saw mortgage deduction, i was ready to go-- >> houses and a problem-- >> how much did you say. >> don't you have nine houses? >> more than that. more than that. >> don't admit that, ben. >> the ideas clobberinghe housing market on itsnees after it'seen on its back four or five years, that's crazy, craziness. >> more on the housing market coming up. i don't want to stick to that, but that-- again, we don't want ben to faint in the middle of the segment, but, sarah, this just raises t
KBCW
Dec 29, 2012 10:00pm PST
unemployment benefits. with the deficit ticking higher, patience is wearing thin. >> for those of us that invest in the stock market, it's disgusting to watch them jockey around with our money. we're affected every day. >> reporter: missing in all the last-minute negotiations is talk of the $1.2 million in mandatory spending cuts scheduled to go into effect tuesday. >>> if the government does go over the cliff, the impact on the aviation industry could be disastrous, and it could have a domino effect on the economy. the transportation security administration could lose about 7% of its budget, and more than 7,000 security officers. passengers could face longer waits at security. the faa could see its budget cut, and that means fewer planes, passengers, and cargo. >> everybody's pocketbook and livelihood is tied to the aviation system. the impact of it not being able to provide the service they do today would be devastating. >> if washington can't reach a compromise, are the economic recovery could stall. >>> a new york woman has been charged with murder as a hate crime for allegedly p
CBS
Dec 29, 2012 11:00pm EST
. with the deficit ticking ever higher, patience is wearing thin. >> for those of us that invest in the stock market it's disgusting to watch them jockey around with our money, because it gets affected every day. >> reporter: missing in all the last-minute negotiations is talk of the $1.2 trillion in mandatory spending cuts scheduled to go into effect on tuesday. the u.s. will also hit its borrowing limit on monday make it difficult for the government to pay its bills. >>> meanwhile, an elderly woman is cammed fast moving fire that left two others hurt. tonight fire investigators say the woman may have gone back in the burning town house to warn the others. the fire swept through this town house on laurel hill road in grown belt last night. destroying the unit and damaging the surrounding town houses. fire investigators are still trying to determine the cause of the fire that left the woman in her 80s dead. >> what we're hearing is a possibility that she may have left the house, got out safely before returning back into the house. >> i heard from my wife who was here when the fire started that my ne
CBS
Dec 30, 2012 8:00am EST
are going to push us that way because of the deficit issue. and the one thing i would like to add is, these choices of what systems to cut or what forces to cut would be far less difficult if we could make the defense department more efficient. and we identify in the study some $900 billion in potential savings just through greater efficiency, particularly in the way we utilize manpower. so if we could pocket that, then we wouldn't to have cut our combat forces as much. >> but let me ask you something that i've asked almost everybody in the administration. the administration is banking on huge savings from better buying power, reorganizing processes and becoming more efficient, but the trouble is what happens if the savings don't materialize? where are we going to get savings in that case? >> well, the hope is that the fiscal -- because of the fiscal pressures, the services and the congress will be more cooperative in actually implementing these savings. these efficiencies are not made up by academics like myself. these were recommended by official government study groups and like th
FOX News
Dec 29, 2012 5:00pm PST
perspective, i think most people know that the deficit was really that came from the budget of the president, $5.3 trillion deficit. people understand that. they know about his war on fossil fuels. here we are in a position of having the most recoverable fossil fuels reserves of any country in the world. we could be totally independent in a matter of weeks, and he won't let us develop our own resources. those are three things what he is doing to the military and all of that, that people are aware of. they are not aware of the cost of the regulations that he has. now, i would just use three of the regulations he was putting off until after the election. one having to do with the boiler mac. it was the regulations on boilers. every manufacturer has a boiler. that would be $63 billion cost in taxes and 800,000 jobs. coal the same way. he actually did away with coal by having an emissions requirement where there is no technology that will reach it. that will be 1.65 million. the reason i mention these, i could be talking about a lot of different regulations. but if you add up these three regulat
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